With the issuance of this Green Bond, Zuoli will finance, amongst others, green buildings and energy efficiency projects in the Zhejiang province.

The bank will work in partnership with local banks and financial institutions using best practices in microfinance for provision of Islamic banking services, and will apply an integrated system of financial and non-financial services to support value and supply chains for MSMEs.

The initiative aims to help clients and communities by providing blended financial and non-financial digital services including advisory services, training and more to assure ease of access to e-money and transfers for its customers.

The Humanitarian Transfers Platform enables humanitarian agencies to execute transfers directly to their interventions beneficiaries without a third party.

The National Cash Transfer Company piloted the Door to Door Payment method as a response to the new challenging context and a preventive measure for coronavirus-related risks.

Li told Reuters in an interview that in “traditional finance” investing in SMEs was rarely worthwhile for global institutions as the due diligence was difficult, risks were high and funding amounts small.

The annual survey on mobile payments showed 98 percent of respondents indicated mobile was their most commonly used payment method, up 5 percentage points from 2019.

Cash transfers from Yemenis abroad to their country have declined by 80 percent in the first four months of 2020, Oxfam announced on Thursday.

The World Bank estimates that one in ten people in Yemen wholly rely on money transfers to meet their basic needs. Remittances to Yemen in 2019 totaled $3.8 billion - 13% of GDP.

Hong Kong-based HKT Financial Services, the Fintech division of the HKT Group, has launched another Fintech project, HKT Flexi, a digital or online financing platform that allows users to make payments via the HKT Flexi App.